Despite a six-week autoworkers’ strike that resulted in a loss of over $1 billion, General Motors (GM) reported a net income increase of 12% last year. The Detroit-based automaker announced that it made just over $10 billion, up from $8.9 billion in 2022. The strike, which led to many of GM’s plants being shut down, […]
In the face of a global economic downturn, the financial world is setting its sights on the Middle East. The region’s wealth, particularly in the Gulf states, has become a magnet for international investors. The Gulf region’s 10 largest sovereign wealth funds manage nearly $4 trillion, surpassing the GDP of major economies like France or […]
Saudi Arabia, traditionally known for its oil reserves, is undergoing a significant transformation under the leadership of Crown Prince Mohammed bin Salman. The Crown Prince envisions Saudi Arabia as a global destination for tourism and business. This vision is part of a broader strategy known as Vision 2030, which aims to diversify the Saudi economy […]
In a landmark move, Saudi Arabia has opened its first liquor store, marking a significant shift in the Kingdom’s societal norms. This development comes after 70 years of strict prohibition laws that have been a cornerstone of the country’s conservative society. The opening of the liquor store is seen as a part of the broader […]
In a recent statement, tech magnate and philanthropist Bill Gates has called for the world’s wealthiest nations, individuals, and corporations to increase their generosity. Gates, who has long been an advocate for philanthropy, emphasized the ‘imperative’ need for the affluent to contribute more towards societal welfare. Gates’ appeal comes at a time when the wealth […]
In a significant financial update, Paytm, one of the leading fintech companies, has reported a narrowing of losses to Rs 220 crore in its Q3 results. This development is accompanied by a substantial 38% jump in revenue, marking a promising turn in the company’s financial trajectory. Paytm’s financial performance in the third quarter has been […]
In an unexpected twist, TikTok, the popular social media platform, has become a hotbed for financial advice. The latest trend, dubbed ‘Loud Budgeting’, is taking the platform by storm and revolutionizing the way people manage their personal finances. ‘Loud Budgeting’ is a novel approach to money management that encourages transparency and accountability. Users share their […]
The Securities and Exchange Board of India (SEBI), the country’s market regulator, has unearthed alarming financial irregularities at Zee Entertainment Enterprises Ltd., one of the leading media conglomerates in the country. This revelation has sent shockwaves through the industry, raising serious questions about corporate governance and transparency. The probe was initiated following a series of […]
In a strategic move that has caught the attention of the global tech industry, Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest dedicated independent semiconductor foundry, has announced a significant increase in its investment in Arizona. The investment, which now stands at an impressive $40 billion, comes ahead of an anticipated visit by U.S. President […]
In a significant development in the tech industry, TPG, a global alternative asset management firm, has announced a strategic majority investment of up to $228 million in Sayari Labs. This move marks a pivotal moment in the growth trajectory of Sayari Labs, a leading provider of counterparty and supply chain risk intelligence. Sayari Labs, trusted […]
